Electric prices have gone down since RGGI
The Regional Greenhouse Gas Initiative (RGGI) is the first market-based regulatory program in the United States to reduce greenhouse gas emissions. RGGI is a cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont. Together, these states have capped and will reduce CO2 emissions from the power sector 10 percent by 2018.
States sell nearly all emission allowances through auctions and invest proceeds in consumer benefits: energy efficiency, renewable energy, and other clean energy technologies. RGGI is spurring innovation in the clean energy economy and creating green jobs in each state.
Cost of Electricity has decreased by an average of 10% since RGGI:*
Since RGGI’s launch electricity price have dropped in all participating states but Vermont, and prices have decreased by an average of 10% across the region. RGGI went into effect in January 2009, and comparing latest available average retail electricity prices (September 2012) to prices from September 2008 shows that prices decreased from 8% to 19% in states other than Vermont, where prices increased by 10%.
* This data and analysis was recently shared with us with our friends at Environment Northeast.